Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 97.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,536 shares of the financial services provider's stock after selling 1,489,587 shares during the period. Burgundy Asset Management Ltd.'s holdings in Brookfield Asset Management were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC raised its stake in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth $32,000. NewEdge Advisors LLC boosted its position in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 325 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Brookfield Asset Management in the fourth quarter valued at about $54,000. Finally, Redwood Park Advisors LLC acquired a new stake in Brookfield Asset Management in the 4th quarter worth about $64,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of BAM traded down $0.78 during mid-day trading on Wednesday, hitting $56.78. 464,497 shares of the stock were exchanged, compared to its average volume of 1,933,720. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The firm has a 50-day moving average of $51.98 and a two-hundred day moving average of $54.37. The company has a market cap of $91.56 billion, a PE ratio of 42.97, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.08%. Brookfield Asset Management's dividend payout ratio is presently 124.11%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley increased their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Brookfield Asset Management presently has an average rating of "Moderate Buy" and a consensus target price of $59.15.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.